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Thursday, December 18, 2008

OPEC and Russia to co-ordinate cut

YOU are all my witnesses. I have been talking about the alliance of Russia and OPEC for several years and their attempt to destroy the US economy by creating high oil prices. How did the oil prices go so low? Give Bush the credit.

I keep hearing from all of these clueless Bush haters that say "Bush raised the oil prices for his friends". The average American is a brainwashed fool. The media will never admit that BUSH is the reason that the oil prices fell. When he announced that he was going to push for drilling, that woke up the American idiots that are addicted to their SUV's and low gas prices.

There was a backlash and this worried the Arabs, because they saw their oil dominance going down the tubes. They saw that the American idiots were awakened by the high gas prices. They do not want the USA to drill and neither do the liberal scum like Obama and the communist environmental movement. The liberals are upset by the low gas prices, because they want people to suffer and be restricted in their life, because they are Stalinists.

Tom Brokow, Obama and the rest of the liberal elite want HIGH taxes put on gas, because they do not want the average Joe or soccer mom to be able to afford to fill up their gas tanks. They want the average Joe to be a peasant, begging for pennies on the corner.

Bush made that famous speech over the summer, that he was going to push for oil drilling and the oil has been crashing ever since. THE MEDIA WILL NEVER TELL YOU THIS, so once again I have to take matters into my own hands and do this myself.

Russia and the Arabs want conflict in the Middle East, because that raises oil prices, kills American soldiers, hurts our economy and it tightens the noose on Israel.

Brent crude rose 61 cents to $47.26 ahead of announcement in Algeria.

The oil price collapsed in the second half of the year, tumbling from an all-time high in excess of $147 a barrel in July, as the global economy moved into recession and demand slowed. A cut of 2 million barrels of daily production is on the cards, with some commentators saying the cartel could cut as much as 2.5 million barrels of production.

Russian leaders have also sent strong signals that the will act in concert with OPEC and unveil a co-ordinated production cut to help boost prices.

The country has been under pressure from OPEC to cut as many as 300,000 of the 9.75 million barrels it produces each day.

Earlier this month, the International Energy Agency revised its worldwide oil demand growth forecasts for this year to 1.2pc, or 1 million barrels a day, from 1.5pc in November.

"A 2 million barrels per day cut in production now runs the risk of a 'Buy the rumor Sell the fact' scenario," Rob Laughlin, analyst at MF Global said. "It would have been bullish for the market a week ago. But we have been warned to expect it now so I think the market will go up initially but then come down further."